F ollowing approval by the Majlis and Guardian Council, the long-awaited Natural Disaster Insurance Fund will be established in the next fiscal year. It will cover homes against all natural disasters, president of the Central Insurance company of Iran said.

'As per law the Ministry of Economy and the CII are defining the regulatory framework of the fund,' Gholamreza Soleimani told IRIB.

Homes subscribed to the national power grid will be covered by the fund, he said, 'Owners of housing units will pay half the premium and the other half will be paid by the government.'

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